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Basic betting terms that you must know about before you place your first bet!

Betting, is an action of gambling, putting money, personal possession or asset at stake on the outcome of a game, a race, a match, etc.  Like everything else which has pros and cons, betting too does, and many times amateur gamblers who have very less knowledge about this industry end up indulging in unethical and illegal betting, resulting in total loss of money and other assets at stake. But harmless betting, both online and offline which are ethical and legal can be a lot of fun and an easy way to make good pocket money. Online betting can become overwhelming for beginners. Understanding what is real and what is a hoax can become taxing. It is normal to think about what you can and cannot do in online betting, like can you count cards in an online casino, or something along the same lines? Or can you win a jackpot in an online casino? To understand the intricate technicalities associated with both online and offline betting, you have to master a few terminologies related to betting.

Anyone who intends to win money in this business has to invest good time in understanding these betting terminologies. Once you get accustomed to these terms and phrases related to betting, not only will you start enjoying the business thoroughly, but also grow much more interest in the game as well as make good money. Here are few betting terminologies you must know before you place your first bet:

  • Accumulator bet – An accumulator bet is a combination of four or more single bets which come together and offer bigger wins.
  • Against the spread – A bet where one backs a selection to cover a spread.
  • Ante post – Ante post is setting a bet on a market in advance for obtaining a longer odd. These bets can sometimes be placed year(s) before the actual event.
  • Arbitrage betting – Arbitrage betting, often referred to as “arbing” is a way via which gamblers and punters aim to earn money and make profit by betting on all possible outcomes of a particular event.
  • Asian Handicap – Asian Handicap betting offers split handicap. This allows a punter to bet on selections which are handicapped by whole and half numbers.
  • Bar – Bar refers to odds beyond which runners are not included.
  • Banker – Banker refers to all markets which have a high possibility to win.
  • Betting exchange – Betting exchange gives all gamblers and punters to bet directly against one another. It does not need the involvement of the bookmaker. There are many betting exchange sites who allow such kind of betting to happen.
  • Bookmaker – A bookmaker is a person or organization who conceptualizes, formulates and processes the plan of action for the bet to take place. It is the bookmaker who provides the odds of all outcomes.
  • Closing line – It is a point after which odds are set on a market. Odds have a chance of being adjusted, based on the number of wagers, etc., before reaching this point.
  • Double bet – Double bet is basically two single selections placed as one single bet. These kinds of bets give the punter a higher chance of winning because the odds are combined as one. This bet works only when both the single bet comes out to be true.
  • Dutching – Dutching refers to the process of backing number of contenders for any event.
  • Each-way bet – This bet refers to a single selection, but it has to comprise of two different bets – a “win bet” and a “place bet”. This selection is then backed to win the event and backed to finish within the set range of different places.
  • Evens bet – This bet is also referred to as, ‘scotch’ or ‘levels’. This bet is set to give back double the stake placed on the bet.
  • Fixed-odds betting – A gambler can secure his/her bet at fixed odds, ensuring the returns from the bet to not change, even if the odds change in the market.
  • In-play betting – This kind of bets can be placed on an outcome after the event has started.
  • Martingale – In this kind of bet, the punter has to double the stake placed on a new bet after losing the current bet.
  • Outright bet – When the wager is placed on the whole competition than on a single match, it is called an outright bet.
  • Spread betting – These bets take place in financial, political as well as sports market.
  • Treble bets – It is another form of accumulator bet, involving four legs or more.
  • Void bet – These bets end up in stakes being returned to the bookmaker.

Although there’s still an ocean of terms to know about, the aforementioned information would equip you with enough knowledge to be able to place a bet.